Insurance Company Adriatic-Slovenica to be Formed by the End of the Year

Ljubljana, 23 February - COMPANIES/INSURANCE/SLOVENICA/ADRIATIC
Insurance company Slovenica ended the 1999 business year successfully, despite
high development costs and the purchase of a majority stake in the Adriatic insurance company. Gross premium statement of accounts in Slovenica increased by 22.3 percent to DM 74 million, while insurance reservations increased by 24 percent to DM 65 million. A joint Adriatic-Slovenica company is expected to start operating in the beginning of 2001 when penetration to foreign markets is also envisaged.